Crypto News Updates

SpaceX’s Bitcoin liquidation triggered a massive drop in Bitcoin’s price A double top pattern suggests more weakness might come The measured move hints at further downside into the $20k area Bitcoin price failed at the $30k level twice this year. After rallying from $16k, it formed a possible double top pattern that should worry investors. The latest sign of weakness came last week. News that Elon Musk’s SpaceX liquidated its entire Bitcoin stash sent the price lower. More precisely, SpaceX sold Bitcoin worth $373 million. It was one of the largest daily liquidations by volume in history. In just 20 minutes, Bitcoin price crashed by more than 7% on outflows bigger than during the FTX collapse. SpaceX sold its Bitcoin holdings after Tesla did the same last year. More precisely, Tesla sold last year 75% of its Bitcoin holdings. So what does it mean for Bitcoin price, and can the market bounce back? A double top pattern might have formed at $30k Since the start of the year, Bi...

Avalanche traded at $10.65, down 1.5% in the past 24 hours. The declines for AVAX, which has plummeted from highs near $16 in mid-July, come ahead of a $103 million token unlock. Token Unlocks shows Avalanche is set to unlock 9.54 million AVAX tokens on August 26. Avalanche is closer to unlocking a significant chunk of its native token AVAX, with this coming at a time a crypto sell-off has put pressure on prices.  With AVAX price down nearly 14% in the past week and over 25% in the last 30 days, the impending token unlock is definitely one to watch for Avalanche. Avalanche will soon unlock AVAX worth $103 Details on the platform  Token Unlocks shows that the smart contracts platform is poised for a supply surge of 9.54 million AVAX tokens. That means over $103 million worth of AVAX tokens will soon be released into circulating supply. The event is scheduled for August 26 and will see the network add to its circulating supply by 2.77%. The planned unlock has earmarke...

Kaspa (KAS), Litecoin (LTC) and Tron (TRX) are among top gainers today as crypto markets eye a rebound. But Hedera and Shiba Inu, one of the most popular crypto meme coins, has suffered notable declines in the past 24 hours. New meme coin Shiba Memu has raised over $2.16 million in its presale as AI drives interest. The crypto market is still searching for a sure footing amidst a tricky terrain wrought with likely traps. Last week’s sharp sell-off that crashed Bitcoin to lows of $25k and Ethereum to under $1,600 has many token trading at or below key levels, with the likes of XRP leading a weekend bounce that has seen Kaspa, Litecoin and Tron among top gainers early Monday. Elsewhere, Hedera ’s outperformed in recent days but it’s among top losers in the past 24 hours. Shiba Inu price has declined further as the troubled launch of Shibarium adds to the downside pressure. While analysts are bullish on crypto long term, here’s the short term outlook for Kaspa, Hedera as well as o...

Singapore, Singapore, August 21st, 2023, Chainwire BinaryX , a leading GameFi and IGO platform, announced today their first-ever hackathon event. BinaryX Online Hackathon 2023 is designed to encourage creativity, innovation, and collaboration among developers within the GameFi community, with the aim of discovering the next wave of GameFi advancements. BinaryX called for both emerging and established developers to showcase their projects and contribute to the growth and evolution of the GameFi ecosystem. BinaryX Online Hackathon Details The objectives of the BinaryX Online Hackathon 2023 are as follows: Innovation: Exploring innovative gaming concepts and solutions that have the potential to reshape the blockchain gaming sector. Talent Recognition: Recognizing the talents of developers within the blockchain gaming community, celebrating their contributions to the industry. Community Interaction: Creating an environment for networking, collaboration, and shared learning among pa...

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XRP price was up 4.5% to above $0.52 after bouncing from recent lows of $0.47. Judge Torres only granted permission to file the motion for an interlocutory appeal. Its not an appeal. XRP is up 4.5% to trade above $0.52 at the time of writing. The Ripple token is leading the broader cryptocurrency market as bulls look to bounce following the downturn that plunged prices on Thursday and Friday. While the Fear & Greed Index holds at 37 to suggest the market is still bearish, Bitcoin has climbed above $26k and Ethereum is hovering near $1,670. Dogecoin has gained 1.2% in the past 24 hours. With the top 10 assets turning green, the total crypto market cap has increased 0.8% to $1.12 trillion. XRP price up after SEC request to appeal XRP holders have responded positively to the latest development in the SEC versus Ripple Labs case. After paring all gains seen following the July ruling that effectively declared XRP not a security, the plunge to $0.47 on August 18 threatened furthe...